Recently there has been a lot of discussion and rants on the IIM Fee hike. I strongly feel its a welcome step and IIM Ahmedabad, IIM Bangalore, IIM Kolkatta and for that matter IITs fees hike is justified. Here are 10 reasons why this fee hike is justified?
- Best Academicians cultivate Best Businessmen
The best professors across the continent can be brought in and retained with better salaries and they will contribute in creation of best businessmen of future!
- Infrastructure expansion: Why do you pay higher for your home?
Better infrastructre, more facilities, more research and more credible and authentic content can be created for the benefit of society. The inflation has increased, the prices across the board in Bangalore have risen, why on earth do you pay higher prices to buy Home? If you can expect higher salaries then this hike is definitely justified.
- Fewer Subsidies means more capital for primary and secondary education.
Govt. can spend on subsidising PG education and help these institutions become autonomous. More fee will bring in more funds and this can help the government inturn to focus more on primary and secondary education.
- Education loans are more freely available.
Today more banks are willing to give education loans, also government has urged to reduce interest rates for education loans. So it's much easier to get loans and pursue education.
- Scholarships for needy.
The director of IIM B Pankaj Chandra has also announced the increase in the shcolarship package to 8 Cr to help the needy pay their fees. So it will be much easier for people.
- Brand building for IIMs – Expansion to Newer Geos + More revenue.
The Brand IIM can be taken to the other parts of world now and you can see more IIMs opening in other parts of world expanding the IIMs realm and brand and bringing more revenue.
- Competing in the International arena.
It will also help in branding exercise of IIMs to take them into multicultureal multi geographic arena. You can see IIMs focussing on expanding it's presence on the international scenario.
- Building India Inc education brand as most premium.
Premium brands need advertising and branding not just in a local region but also in international scene. SO obviously increased funds will help in brand building exercises and taking IIMs brand to the next level in turn making BRAND INDIA INC. visible worldwide!
- New programs can be started and better learned society.
Newer niche programs can be started, more industry can be supported with better and newer skills. More industry partnerships can be built! This will lead to a better, knowledgable, learned society that India has.
- More industry interaction can be brought in.
More industry programs means more industrial revenue. Also more industries will participate in funding and expanding IIM brand to various parts of India and aborad.
This increase in fee has a overall positive effect. Student and aspirants have to be educated more by IIMs and similar society associations on why it's important and how it will be beneficial in turn for them only!